LOS ANGELES — A company considered to be a “pioneer for managing, distributing and monetizing content” has received a strategic investment from Fox Corporation.
This, Eluvio says, is designed to accelerate the adoption of Eluvio’s platform across the broader media and entertainment industry.
As part of the investment, the companies also announced that Eluvio will provide the underlying technology platform for Blockchain Creative Labs, FOX Entertainment’s and Bento Box Entertainment’s recently launched NFT business and creative unit.
Fox Corporation’s investment marks the completion of Eluvio’s Series A round at a valuation of $100 million.
Paul Cheesbrough, Chief Technology Officer and President of Digital for Fox Corporation, will also join Eluvio’s Board of Directors.
Launched in 2019, Eluvio is led by technologists Michelle Munson and Serban Simu. The company’s Eluvio Content Fabric is an advanced, open protocol blockchain network purpose-built for owner-controlled storage, distribution, and monetization of digital content at scale. It provides live and file-based content publishing, transcoding, packaging, sequencing, dynamic and static distribution, and minting of derivative NFTs–all backed by blockchain contracts providing proof of ownership and access control.
Eluvio LIVE, powered by the Eluvio Content Fabric, is a multi-tenant turnkey platform for publishers that provides 4K streaming and ticketing of events with media marketplaces.
“At FOX, we believe that the blockchain, and the overall shift towards a more decentralized web, is providing creators with a wealth of opportunities to reach consumers with exciting new experiences,” Cheesbrough said. “Michelle, Serban and the Eluvio team are the best in the business when it comes to the software and scalable infrastructure required to power live, decentralized experiences across the blockchain and our investment will help bring this technology to a wider market of content creators, media partners and advertising clients.”
In May, FOX Entertainment and Bento Box entered the NFT business with the formation of Blockchain Creative Labs and a $100 million creator fund to identify growth opportunities in the space. As such, Blockchain Creative Labs will launch a dedicated digital marketplace for creator Dan Harmon’s upcoming animated comedy, KRAPOPOLIS, marking the first animated series to be curated entirely on the blockchain.
The company will manage and sell digital KRAPOPOLIS goods, including NFTs of one-of-a-kind character and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward super fans.
Set in mythical ancient Greece and centered on a flawed family of humans, gods and monsters that tries to run one of the world’s first cities without killing each other, KRAPOPOLIS is fully owned and financed by FOX Entertainment and will be produced by Bento Box.
Additional news about Blockchain Creative Labs-driven content will be disclosed in the coming weeks.
— Editing by Adam R Jacobson